Wall Street brokerages expect that TEGNA Inc. (NYSE:TGNA) will report $786.60 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for TEGNA’s earnings, with estimates ranging from $780.20 million to $793.00 million. TEGNA reported sales of $937.58 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 16.1%. The firm is expected to announce its next quarterly earnings report on Monday, March 7th.
According to Zacks, analysts expect that TEGNA will report full year sales of $3.00 billion for the current fiscal year, with estimates ranging from $3.00 billion to $3.01 billion. For the next fiscal year, analysts expect that the business will post sales of $3.44 billion, with estimates ranging from $3.41 billion to $3.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover TEGNA.
TEGNA (NYSE:TGNA) last released its earnings results on Thursday, November 4th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.06. The company had revenue of $756.00 million during the quarter, compared to the consensus estimate of $746.88 million. TEGNA had a return on equity of 27.31% and a net margin of 18.76%. TEGNA’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.
Institutional investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC purchased a new position in shares of TEGNA during the second quarter valued at approximately $977,000. Bank of Montreal Can increased its stake in shares of TEGNA by 22.7% during the second quarter. Bank of Montreal Can now owns 1,249,687 shares of the company’s stock valued at $23,045,000 after buying an additional 230,916 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of TEGNA by 0.5% during the second quarter. Tocqueville Asset Management L.P. now owns 686,775 shares of the company’s stock valued at $12,884,000 after buying an additional 3,600 shares during the period. Brookstone Capital Management purchased a new position in shares of TEGNA during the second quarter valued at approximately $360,000. Finally, State Street Corp increased its stake in shares of TEGNA by 9.2% during the second quarter. State Street Corp now owns 9,930,849 shares of the company’s stock valued at $187,189,000 after buying an additional 833,076 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.
NYSE:TGNA traded up $0.12 during mid-day trading on Monday, reaching $21.12. The stock had a trading volume of 2,100,646 shares, compared to its average volume of 1,508,203. The company has a 50 day moving average price of $20.00. The company has a market capitalization of $4.67 billion, a PE ratio of 7.88, a P/E/G ratio of 1.03 and a beta of 1.13. TEGNA has a one year low of $13.05 and a one year high of $22.09. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.38.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Shareholders of record on Friday, December 10th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Thursday, December 9th. This represents a $0.38 dividend on an annualized basis and a yield of 1.80%. TEGNA’s dividend payout ratio (DPR) is currently 14.18%.
TEGNA Company Profile
TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.
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